Competition High for Koreatown Multifamily Deal

MMK Capital has acquired a 47-unit apartment complex in Koreatown from Prana Investments. The deal attracted multiple offers from buyers looking to own in the popular submarket. Rents on the property are significantly below market value, providing strong upside.

Located at 147 S Normandie Ave., the property has 47 single units, and features a common laundry room and a basement with secured front entry. Third- and fourth-floor units also features views of the Hollywood sign and Century City.

Cory Stehr and Cole Martens, principals of Lee & Associates-LA North/Ventura represented both the buyer and the seller in the transaction.